Coinbase has introduced a dedicated Proof of Reserves (PoR) page for Coinbase Wrapped BTC (cbBTC), providing onchain addresses and live reserve and supply data to demonstrate that each cbBTC token is backed 1:1 by Bitcoin held in custody. The page shows total BTC reserves, total cbBTC outstanding, and a reserve ratio that has been slightly above 100%, indicating more BTC held than cbBTC issued at the time of publication. cbBTC is Coinbase’s wrapped Bitcoin token, launched in 2024, that allows BTC to be used across multiple chains including Ethereum, Base, Solana and Arbitrum while remaining custodied by Coinbase Prime. The new PoR disclosure lists specific Bitcoin wallet addresses and their balances so anyone can independently verify onchain that the BTC reserves match or exceed the cbBTC supply, supplementing Coinbase’s existing reliance on traditional financial audits as a U.S. public company. Third‑party coverage notes that the PoR data shows Coinbase holding over 26,500 BTC against a slightly smaller cbBTC supply, with holdings distributed across dozens of wallets rather than a single large address. This move comes amid broader industry pressure for transparency following multiple centralized failures, and it contrasts with earlier statements from Coinbase’s CEO that the company did not plan to implement PoR for customer balances, leaning instead on regulated audits. By adding PoR specifically for cbBTC, Coinbase is aligning the product more closely with other wrapped BTC models that publish reserve information, while still using an off‑chain attestation model to link identified custody addresses to the token supply. The launch also positions cbBTC competitively against new entrants such as Circle’s planned cirBTC, where reserve transparency and onchain verifiability are emerging as key differentiators in the wrapped Bitcoin market. "entities":["Coinbase","Coinbase Wrapped BTC (cbBTC)","Bitcoin (BTC)","Coinbase Prime","Base","Ethereum","Solana","Arbitrum","Brian Armstrong","Circle","cirBTC","WBTC (Wrapped Bitcoin)"]}`

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Coinbase selects Chainlink CCIP as the exclusive bridge infrastructure to supercharge Coinbase wrapped asset growth. Coinbase wrapped assets, which include cbBTC, cbETH, cbDOGE, cbLTC, cbADA, and cbXRP, currently have an aggregate market cap of approximately $7B.

Coinbase selects Chainlink CCIP as the exclusive bridge infrastructure to supercharge Coinbase wrapped asset growth. Coinbase wrapped assets, which include cbBTC, cbETH, cbDOGE, cbLTC, cbADA, and cbXRP, currently have an aggregate market cap of approximately $7B.

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